DISCLAIMER: As with all video and editorial content shared on DeadlyClear.com, the content and its views are strictly that of its creators. Such views, opinions, and/or perspectives are intended to convey a story, are based on opinions and/or recollections about events in their lives on which conflicting memories may exist, and are not intended to malign any individual, religion, ethnic group, or company. Research is always encouraged, and comments are welcomed.
Silicon Valley Bank didn’t even make it to the Weekend much less through it!! There’s no stopping the collapse now. Just a matter of time for the 18,400 Regional Banks to suffer the same fate. May the Road you choose be the Right Road.
By Ellen Brown / Original to ScheerPost DeadlyClear Research and Editorial Staff
Financial podcasts have been featuring ominous headlines lately along the lines of “Your Bank Can Legally Seize Your Money” and “Banks Can STEAL Your Money?! Here’s How!” The reference is to “bail-ins:” the provision under the 2010 Dodd-Frank Act allowing Systemically Important Financial Institutions (SIFIs, basically the biggest banks) to bail in or expropriate their creditors’ money in the event of insolvency. The problem is that depositors are classed as “creditors.” So how big is the risk to your deposit account? Part I of this two part article will review the bail-in issue. Part II will look at the [UNREGULATED] derivatives risk that could trigger the next global financial crisis.
From Bailouts to Bail-Ins
The Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010 states in its preamble that it will “protect the American taxpayer by ending bailouts.” But it does this under Title II by imposing the losses of insolvent financial companies on their common and preferred stockholders, debtholders, and other unsecured creditors, through an “orderly resolution” plan known as a “bail-in.”
The point of an orderly resolution under the Act is not to make depositors and other creditors whole. It is to prevent a systemwide disorderly resolution of the sort that followed the Lehman Brothers bankruptcy in 2008. Under the old liquidation rules, an insolvent bank was actually “liquidated”—its assets were sold off to repay depositors and creditors.
If this case has taught us anything – its that the Rules of Evidence lag well behind digital technology and forensics creating a need for the current state and federal legislation to be updated concerning the inspection, interpretation and collection of, digital evidence along with digital devices – and proactive digital evidence and forensics
educational programs for local and state government employees need to be instituted and/or significantly updated.
In the Doc Bekkum case, iPhone text messages were used to support the complainant’s narrative. She had no witness of her own to support her allegations. The only known witness was Dr. Bekkum’s daughter who completely disputed the complainant’s testimony in a declaration, but it was after the trial. Being able to decipher real from fabricated screenshot digital text messaging is paramount in this case. From the collection to the Exhibit – the pathway must be squeaky clean.
Even the 2017 Authenticating Digital Evidence by Daniel Capra of Fordham University School of Law is now, only 6 years later, somewhat outdated as technology rapidly advances. The white paper notes:
This is where I first learned the term of political fraud pandering. American Homeowners thought they had a cheerleader and it turns out Marcy Kaptur and the rest of her political cronies were just another bunch of do nothing politicians. They had the chance to write legislation to outlaw the fraudulent securitization schemes, robo-signing and UNREGULATED DERIVATIVE and they did nothing! The small in consequential crap they did do, like the $25 million National Mortgage Settlement that Kamala Harris oversaw, was a drop in the bucket to the TRILLION$ of debt the banks created from Americans’ mortgages and never helped the over 56+ million American families that lost, short sales, or walked away from their homes. This and other bank/government “settlements” were just a smokescreen leading up to another election.
This is a must see for everyone in Hawaii and other states with high pension deficits and experimental vaccine mandates for union employees. By Sydney Sullivan
Take into account that it appears Hawaii has “gambled” the pension funds and has BILLION$ in deficits in UNREGULATED DERIVATIVES and bad investments. If they fire people it is likely these union members won’t get their pensions until retirement age – if they are even available at that time. If people quit now and take their pension funds from whatever they are using to make pension payments, might be better because they they might not see their pensions when they retire. Just a thought. Hawaii’s largest public pension fund hits a record $14B shortfall and State public funds’ shortfall hits $25B
“Shortfall” – laugh out loud. “Shortfall” – a clever term for “we’ve lost your money”. It appears, as American Homeowners completely understand, it is more likely bad investments and gambling debts.
Sometimes (most of the time) we have to wonder – whose bright idea was the foreclosure and eviction moratorium? Did they have no sense of consequence? The idea in and of itself was good at the time – but the execution leaves a lot to be desired. Why in the world would the Congress agree to a moratorium of mortgage payments be allowed to use a “forbearance” program?! Here we go again.
March 1, 2021 MEDIA CONTACT: Office of Communications Tel: (202) 435-7170
NEW REPORT FROM CONSUMER FINANCIAL PROTECTION BUREAU FINDS OVER 11 MILLION FAMILIES AT RISK OF LOSING HOUSING Federal foreclosure moratorium slated to end June 30, 2021 WASHINGTON, D.C. – Today, the Consumer Financial Protection Bureau (CFPB) issued a report that warns of widespread evictions and foreclosures once federal, state, and local pandemic protections come to an end, absent additional public and private action. Over 11 million families are behind on their rent or mortgage payments: 2.1 million families are behind at least three months on mortgage payments, while 8.8 million are behind on rent. Homeowners alone are estimated to owe almost $90 billion in missed payments. The last time this many families were behind on their mortgages was during the Great Recession.
The stories you are about to read are relatively true with some poetic liberties, the names have been changed to protect the innocent. God took care of the guilty.
Karma comes from the Sanskrit word, karam, or action. The Law of Karma talks about the consequences of our actions. Or in other words, cause and effect. You may or may not call it karma, but for most of us, we have one of the following ideas already implanted.
You reap what you sow –
What goes around comes around –
You get what you give –
Life always come “full circle” –
How does this apply to bank foreclosure attorneys?
In the process of research for a homeowner in the throws of foreclosure hell, albeit stayed in moratorium for the purposes of COVID as a “Federally backed mortgage loan” pursuant to the 2020 Coronavirus Aid, Relief, and Economic Security Act (CARES Act), a little unknown gem of information surfaced.